Da Nang in central Vietnam plans to reclaim 300 hectares of land from the sea to build the country’s first integrated free trade zone.
The city, largely considered the third most important in Vietnam after Hanoi and Ho Chi Minh City, has submitted a proposal to the government for the establishment of the free trade zone, projected to contribute 25% of its economic output by 2050.
The zone will spread over 2,317 hectares of land, including the reclaimed 300 ha.
The location for the reclamation has not been disclosed, with the city carrying out comprehensive studies to finalize an investment plan and timeline.
On Sept. 1 PM Pham Minh Chinh had inspected the area along Nguyen Tat Thanh Street, where 420 ha of land is planned to be reclaimed for setting up logistics services for the free trade zone.
He approved the reclamation in principle but requested thorough consideration of building materials and land use issues.
Da Nang has already reclaimed land on either side of the Thuan Phuoc Bridge for the Da Phuoc International and Thuan Phuoc new urban areas.
But the former has been abandoned since it is connected with a criminal case involving Phan Van Anh Vu, a former real estate tycoon who has been imprisoned for 30 years for “giving bribes” and “deliberately disclosing state secrets” among other charges.
The Da Nang free trade zone is expected to be Vietnam’s first integrated model combining functions such as port and airport logistics with trade, services and export-oriented industrial activities.
The Da Nang government expects it to account for 8-9% of the city’s economy by 2030 and 25% by 2050, and create 41,000 and 137,000 jobs.
Phase 2 will see the expansion of the zone to areas like Tien Sa Port (at the foot of Son Tra Peninsula, after its conversion into a passenger port) and redevelopment the downtown railway station area.
Source: Vnexpress
